Amendments to All Industry Rates of Duty Drawback wef 20.02.2019
Government has made certain amendments in the AIRs of Duty Drawback vide Notification No. 12/2019-Customs (N.T.) dated 16.02.2019. These changes are effective from 20.02.2019.
Blog Archives
Notification No. 7/2019-Customs (ADD), Dated: 07.02.2019
Seeks to impose definitive anti-dumping duty on imports of “Non-Plasticized Industrial Grade Nitrocellulose Damped in Isopropyl Alcohol having Nitrogen content in the range of 10.7% to 12.2%” originating in or exported from Brazil, Indonesia and Thailand vide NOTIFICATION No. 7/2019-Customs (ADD) dated 7th February, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE NOTIFICATION No. 7/2019-Customs […]
Customs Brokers Licensing (Amendment) Regulations, 2019
CBIC notifies Customs Brokers Licensing (Amendment) Regulations, 2019 and amends Customs Brokers Licensing Regulations, 2018 vide Notification No. 08/2019-Customs (N.T.) dated 6th February, 2019.
Rationalization of customs duty & procedures to boost Make in India initiative
Rationalization of customs duty and procedures to give boost to ‘Make in India’ initiative RFID technology to be used to improve export logistics The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister for Finance, Corporate […]
Rationalization of customs duty & procedures to boost Make in India initiative
Rationalization of customs duty and procedures to give boost to ‘Make in India’ initiative RFID technology to be used to improve export logistics The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister for Finance, Corporate […]
Anti-dumping duty on Fluoroelastomers (FKM) import from China
CBIC seeks to impose definitive anti-dumping duty on Fluoroelastomers (FKM) originating in or exported from China PR vide Notification No. 6/2019-Customs (ADD) Dated 28th January, 2019 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 28th January, 2019 Notification No. 6/2019-Customs (ADD) G.S.R. 52(E).—Whereas, in the matter of import of ‘Fluoroelastomers (FKM)’ (hereinafter referred […]
List of CBIC staff / Officers getting Presidential Award on 26.01.2019
Grant of Presidential Awards to the Officers of the Central Board of Indirect Taxes and Customs (CBIC) on the eve of the Republic Day, 2019 Every year, the Officers of the Central Board of Indirect Taxes and Customs (CBIC) Department are considered for grant of Presidential Award of Appreciation Certificate for ‘Exceptionally Meritorious Service Rendered […]
Reflections on Current Policy Issues Facing Indian Economy
Indian economy has witnessed an accelerated pace of domestic reforms in recent years. These reforms include, inter alia, the flexible inflation-targeting monetary policy framework, the Insolvency and Bankruptcy Code (IBC), the Goods and Services Tax (GST) and steps for enhancing foreign investments by liberalising the FDI regime and undertaking efforts to provide a conducive business climate.
Customs Rate of Exchange of Foreign Currency wef 18.01.2019
Customs Rate of Exchange of Foreign Currency Conversion wef 18.01.2019 notified vide Notification No. 05/2019 – Customs (N.T.) dated 17th January, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 05/2019-Customs (N.T.) New Delhi, dated the 17th January, 2019 In exercise of the powers […]
Notification No. 03/2019-Customs (ADD), Dated: 15.01.2019
Seeks to further amend notification No. 1/2017-Customs(ADD) dated 5th January, 2017 to prescribe ADD on exports from Janata Jute Mills Ltd., M/s. Aman Jute Fibrous Ltd. (Producer) and M/s IB Jute Corporation on the basis of final findings of the Designated Authority in this regard. Government of India Ministry of Finance (Department of Revenue) Notification […]
Notification No. 02/2019-Customs (ADD), Dated: 15.01.2018
seeks to rescind notification Nos.30/2018 – Customs(ADD) and 31/2018 – Customs (ADD) both dated 30.05.2018 that provided for provisional assessment of jute goods exported from Bangladesh or Nepal by M/s Janata Jute Mills Ltd., M/s. Aman Jute Fibrous Ltd. (Producer) and M/s IB Jute Corporation (Exporter/ Trader) till the final findings of New Shipper Review […]
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils etc
Tariff Notification No. 04/2019-CUSTOMS (N.T.) dated 15th January, 2019 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver.
Reg. Removal of Pre-import condition on specified deemed export
Notification No. 01/2019-Customs- Seeks to remove pre-import condition and include specified deemed export supplies for exemption from integrated tax and Compensation cess for materials imported against Advance Authorizations and Advance Authorizations for Annual Requirement
Customs Post Clearance Audit- reg
A new audit approach is envisaged in view of the experience gained over the past years in implementation of Customs Post Clearance Audit, as well as the exposure to international best practices.
Nandan Nilekani appointed as Chairman of RBI Digital Payments Panel
With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank of India has decided to constitute a High-Level Committee on Deepening of Digital Payments. The composition of the Committee is as under:
DIPP clarifies on FDI policy on e-commerce after recent media reports
FDI policy on e-commerce, first pronounced through Press Note 2 of 2000, permitted 100% FDI in B2B e-commerce With a view to clarify the already existing policy framework, after extensive stakeholder consultations, Press Note 3 was issued by DIPP in 2016. B2C e-commerce, that is multi-brand retail through inventory based model, has all along remained prohibited for FDI.
Anti-dumping duty on import of Methylene Chloride
Notification No. 01/2019 - Customs (ADD) dated 04.01.2019 Seeks to impose anti-dumping duty on imports of 'Methylene Chloride originating in or exported from European Union and United States of America
CBIC exempts BCD and IGST for imports by NTRO
CBIC partially amends notification No. 37/2017-Customs dated 30.06.2017 in order to exempt BCD and IGST for imports by NTRO. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 81/2018–Customs New Delhi, the 17th December, 2018 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, […]
Online exam under Customs Brokers Licensing Regulations from Year 2019
CBIC has decided that the written examination under regulation 6 of the Customs Brokers Licensing Regulations, 2018 will be held online from the year 2019 onwards. The online examination will be conducted by National Academy of Customs, Indirect Taxes and Narcotics (NACIN).
RBI kept policy repo rate unchanged at 6.5 per cent
Monetary Policy Committee (MPC) decided to Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent. Consequently, the reverse repo rate under the LAF remains at 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.